Share price of Dewan Housing Finance Corporation Ltd (DHFL) advanced nearly 5 per cent on Friday after the firm said it has filed application with NCLT for submission of the resolution plan of Piramal Capital & Housing Finance.

After opening in the green territory, company’s shares stock rose 4.76 per cent to hit the upper circuit at Rs 19.80 apiece on the BSE.

The scrip hit its upper trading limit on the NSE as well, with a gain of 4.76 per cent at Rs 19.80.

On Thursday, the company said, it has received no objection from the Reserve Bank and has filed application with NCLT for submission of the resolution plan of Piramal Capital & Housing Finance.

Earlier this week, DHFL had announced Piramal group’s resolution plan getting approval from the RBI.

Pursuant to the receipt of no objection from Reserve Bank as per Insolvency and Bankruptcy Rules, 2019, the administrator of DHFL has filed an application for submission of resolution plan of Piramal Capital & Housing Finance Limited (PCHFL) with the adjudicating authority NCLT, Mumbai Bench, DHFL said in a regulatory filing on Thursday.

The resolution plan has been approved by the Committee of Creditors (CoC).

Piramal, in its bid, has offered an additional amount in the resolution process to fixed deposit holders, over and above what the CoC offers them through the IBC resolution.